Waters Falls, Autodesk Rises, Palantir Record Highs
On this episode of Stock Movers:- Waters Corp. (WAT) shares fell after the life sciences company said it will merge with Becton Dickinson’s Biosciences & Diagnostic Solutions in a Reverse Morris Trust transaction valued at about $17.5 billion.- Autodesk (ADSK) shares rose after the company is no longer pursuing an acquisition of PTC Inc., people familiar with the matter said, which would have ranked as one of the year’s largest deals. The software provider has decided to shelve its work on a potential cash-and-stock deal for PTC, according to the people, who asked not to be identified discussing confidential information.- Palantir (PLTR) shares hit record highs after President Trump is set to announce $70 billion in artificial intelligence and energy investments in Pennsylvania on Tuesday, the latest push from the White House to speed up development of the emerging technology. Trump is expected to share details of the new initiatives at an event outside Pittsburgh, according to an administration official, who spoke on the condition of anonymity to discuss the planning. There has also been 13F filings that show Gateway Investment Advisers boosted its stake in Palantir in the June 30 quarter.See omnystudio.com/listener for privacy information.
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5:07
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5:07
Closing Bell: Fastenal Rises, Warner Bros Climbs, Waters Declines
Listen for comprehensive cross-platform coverage of the US market close as heard on Bloomberg Television, Bloomberg Radio, and YouTube with Romaine Bostick, Scarlet Fu, Norah Mulinda and Tim Stenovec. On this episode of Stock Movers: - Fastenal (FAST) shares were 4% higher at the close after the company posted earnings in line with estimates this morning. Analysts see the slightly better-than-expected June earnings as an encouraging sign amid tariff uncertainty. Fastinal CEO Daniel Florness says it is difficult to move manufacturing fully back to the United States and is seeing "limited" signs its customers are shifting manufacturing back to the US. - Warner Brothers Discovery (WBD) shares were up 2% after Superman ticket sales beat expectations, bringing in $125 million domestically and $220 million worldwide, according to a statement from Warner Brothers. Superman is the opening chapter in a 10-year plan to interweave movies and TV shows based on DC comic-book characters such as Batman and Wonder Woman. - Waters (WAT) shares dropped as much as 10%, the most intraday since January 2023, after the life sciences company said it will merge with Becton Dickinson’s Biosciences & Diagnostic Solutions business in a Reverse Morris Trust transaction valued at about $17.5 billion. Jefferies says the deal adds “variables” to Waters’ “clean” story. The stock is down 18% year-to-date.See omnystudio.com/listener for privacy information.
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6:24
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6:24
Constellation Brands Falls, Coinbase Rallies, Rocket Lab Soars
On this episode of Stock Movers: - Alcoholic beverage stocks are tumbling on Monday after President Donald Trump declared a 30% tariff rate for Mexico and the European Union, key markets for drinksmakers. Constellation Brands (STZ), maker of Modelo and Corona, drops as much as 5.1%, the most intraday since early February. Citi analyst Filippo Falorni notes 100% of STZ’s beer portfolio is brewed in Mexico, while Jack Daniel’s maker BF/B exports its American whiskey products overseas, which could be at risk from retaliatory tariffs from the EU. - Coinbase (COIN) rallied after Bitcoin reached an all-time high of 120,000. The Crypto exchange joined the S&P 500 a few months ago. The stock is benefitting from the US House of Representatives' "Crypto Week," with the prospect of a clear US regulatory framework bolstering confidence in the asset class among institutional investors. - Rocket Lab (RKLB) reached a record high after Citi raised its price target on the stock. The increased price target comes as Citi shifts its valuation methodology to the company’s revenue potential in 2029 from 2027. Rocket Lab recently awarded a contract to Bollinger Shipyards to support the buildout of the ocean landing platform for its Neutron reusable rocket. Movement has also been seen in the stock over the past few weeks as Trump threatened to pull SpaceX contracts.See omnystudio.com/listener for privacy information.
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5:27
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5:27
Coinbase Rises, Boeing Higher, Best Buy Falls After Rating Downgrade
On this episode of Stock Movers:- Coinbase (COIN) shares rise. Cryptocurrency-exposed stocks rose after Bitcoin breached $120,000 for the first time, with investor enthusiasm showing few signs of dimming as the US House of Representatives prepares to consider key industry legislation during its “Crypto Week” starting Monday.- Boeing (BA) shares edge higher after India's civil aviation authority ordered an inspection of cockpit fuel switches on Boeing Co. 737 and 787 aircraft operating in the country.- Best Buy (BBY) shares fall after Piper Sandler downgraded the electronics retailer to neutral from overweight.See omnystudio.com/listener for privacy information.
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4:12
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4:12
Coinbase Rises, Autodesk Gains, Kenvue Up After Ousting CEO
On this episode of Stock Movers:- Coinbase (COIN) shares rise. Cryptocurrency-exposed stocks rose after Bitcoin breached $120,000 for the first time, with investor enthusiasm showing few signs of dimming as the US House of Representatives prepares to consider key industry legislation during its “Crypto Week” starting Monday.- Autodesk (ADSK) shares gain after the company said it is no longer pursuing an acquisition of PTC Inc., people familiar with the matter said. This would have ranked as one of the year’s largest deals.- Kenvue (KVUE) shares are up after the company said Chief Executive Officer Thibaut Mongon will leave the company as it continues to revamp the maker of Tylenol, Neutrogena and Listerine brands.See omnystudio.com/listener for privacy information.
Stock Movers features five-minute conversations on today's biggest winners and losers in the stock market. Listen for analysis on the companies making news on Wall Street.
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